Health
Bausch + Lomb Sale Stumble Frustrates Bausch Health Investors
- Deal for eye-care company is off table ‘for now,’ CEO says
- Lack of resolution leaves investors in ‘holding pattern’: BI
Bausch + Lomb eye vitamins.
Photographer: Scott Olson/Getty Images
This article is for subscribers only.
Bausch Health Companies Inc.’s years-long process of trying to separate its Bausch + Lomb Corp. eye-care business hit a roadblock Thursday when a potential sale to private equity fell through, raising questions about the parent company’s future.
Bausch Health, which owns 88% of Bausch + Lomb, has been trying to complete a separation since as early as 2020, first entertaining a spinoff and then a sale. Disagreements between shareholders and lenders, as well as Bausch Health’s debt, which stands at more than $20 billion, have complicated the efforts.